Core Viewpoint - Security Federal Corporation reported significant growth in net income for both the fourth quarter and the full year ended December 31, 2025, driven by increased net interest income and non-interest income, alongside a reduction in the provision for credit losses [2][6][7]. Financial Performance - For the fourth quarter of 2025, net income available to common shareholders was $3.9 million, or $1.24 per share, compared to $3.0 million, or $0.94 per share, in the same quarter of 2024, marking a 30.0% increase in earnings per share [2][4]. - Year-to-date net income available to common shareholders rose to $12.0 million, or $3.80 per share, from $8.9 million, or $2.77 per share, in 2024, reflecting a 37.1% increase in earnings per share [2][8]. Interest Income and Expenses - Total interest income for the fourth quarter of 2025 was $19.8 million, a decrease of $437,000 or 2.2% from the previous year, while total interest expense fell by $1.7 million or 19.3% to $7.2 million [6]. - Net interest income increased by $1.3 million or 11.5% to $12.6 million in the fourth quarter of 2025, primarily due to a greater reduction in interest expense compared to interest income [6][7]. Non-Interest Income and Expenses - Non-interest income for the fourth quarter of 2025 increased by $1.0 million or 35.4% to $3.9 million, driven by higher grant income and rental income [6]. - Non-interest expense rose by $1.5 million or 16.0% to $11.1 million, attributed to increased salaries, employee benefits, and debit card expenses [6]. Credit Quality - Non-performing assets were reported at $5.8 million as of December 31, 2025, a slight increase from $5.7 million at September 30, 2025, but a decrease from $7.6 million at the end of 2024 [10][13]. - The allowance for credit losses to gross loans was stable at 1.97% as of December 31, 2025, compared to 1.98% a year earlier [10][13]. Balance Sheet Highlights - Total assets reached $1.62 billion at December 31, 2025, reflecting a year-over-year increase of $6.3 million or 0.4% [14]. - Cash and cash equivalents decreased by $102.9 million or 57.7% to $75.3 million, primarily due to investment securities purchases and debt repayments [14]. - Total loans receivable, net, were $676.2 million, down $1.9 million from the previous quarter and $11.0 million year-over-year [14]. Capital Management - Total shareholders' equity increased to $200.5 million at December 31, 2025, up from $182.4 million a year earlier [15]. - The common equity book value per share rose to $37.74, compared to $31.21 in the previous year [15].

Core Viewpoint - Security Federal Corporation reported a significant increase in net income for the second quarter and year-to-date, driven by higher net interest income and non-interest income, alongside a decrease in the provision for credit losses [2][6][7]. Financial Performance - For the quarter ended June 30, 2025, net income available to common shareholders was $2.4 million, or $0.75 per share, compared to $2.1 million, or $0.66 per share, for the same quarter in 2024, marking a 14.3% increase in earnings per share [2][4]. - Year-to-date net income available to common shareholders reached $5.0 million, or $1.56 per share, up from $3.9 million, or $1.20 per share, in the same period of 2024, reflecting a 30% increase in earnings per share [2][8]. Income Breakdown - Total interest income for the second quarter of 2025 was $19.4 million, an increase of $629,000, or 3.3%, from the previous year, while total interest expense decreased by $502,000, or 5.8%, to $8.1 million [6][8]. - Net interest income rose by $1.1 million, or 11.1%, to $11.3 million for the quarter, attributed to increased interest income from loans and other interest-earning assets [6][8]. - Non-interest income increased by $141,000, or 5.7%, to $2.6 million, primarily due to higher rental income and gains from land sales [6][8]. Expense Analysis - Non-interest expense for the second quarter increased by $692,000, or 7.2%, to $10.4 million, driven by higher salaries, employee benefits, and occupancy expenses [6][8]. - Year-to-date non-interest expense rose by $898,000, or 4.7%, to $20.2 million [7][8]. Credit Quality - Non-performing assets decreased to $5.9 million, or 0.37% of total assets, down from $7.6 million, or 0.47% at the end of 2024 [10][14]. - The allowance for credit losses was $14.0 million, representing 2.00% of gross loans, compared to 1.98% at the end of 2024 [10][14]. Balance Sheet Highlights - Total assets increased to $1.625 billion, a year-over-year rise of $82.1 million, or 5.3% [12][15]. - Total loans receivable, net, was $685.5 million, a slight decrease of $1.6 million, or 0.2%, since December 31, 2024 [12][15]. - Investment securities rose by $46.8 million, or 7.1%, to $707.6 million due to purchases exceeding maturities [12][15]. - Deposits increased by $59.2 million, or 4.5%, to $1.4 billion [12][15]. Capital Management - Common equity book value per share increased to $34.02 at June 30, 2025, from $31.21 at December 31, 2024 [16]. - Total shareholders' equity was $191.3 million, up from $182.4 million at the end of 2024 [16].

AIKEN, S.C., May 22, 2025 (GLOBE NEWSWIRE) -- Security Federal Corporation, parent company of Security Federal Bank, is pleased to announce that a quarterly dividend of $0.15 per share will be paid on or about June 15, 2025, to shareholders of record as of May 31, 2025. This is the one hundred thirty-eighth consecutive quarterly dividend to shareholders since the Bank’s conversion in October of 1987 from a mutual to a stock form of ownership. The dividend was declared as a result of the Bank’s continued pr ...

Core Viewpoint - Security Federal Corporation reported a significant increase in net income for the first quarter of 2025, driven by higher net interest income and non-interest income, alongside a reduction in the provision for credit losses compared to the same period in 2024 [2][4]. Financial Performance - Net income available to common shareholders for Q1 2025 was $2.6 million, or $0.81 per share, up from $1.8 million, or $0.54 per share, in Q1 2024, marking a 44.4% increase in net income [2][4]. - Total interest income rose by $514,000, or 2.7%, to $19.2 million, while total interest expense decreased by $733,000, or 8.4%, to $8.0 million [7]. - Net interest income increased by $1.2 million, or 12.5%, to $11.2 million, attributed to a rise in interest income from loans [7]. - Non-interest income grew by $122,000, or 5.3%, to $2.4 million, primarily due to increased rental income and gains from land sales [7]. - Non-interest expense increased by $205,000, or 2.1%, to $9.8 million, mainly due to higher salaries and employee benefits [7]. Credit Quality - The Bank recorded no provision for credit losses in Q1 2025, compared to a total provision of $335,000 in Q1 2024 [8]. - Non-performing assets were $7.3 million, or 0.46% of total assets, at March 31, 2025, a slight decrease from $7.6 million, or 0.47% of total assets, at December 31, 2024 [8][9]. Balance Sheet Highlights - Total assets were $1.6 billion at March 31, 2025, reflecting a year-over-year increase of $65.8 million, or 4.3%, but a decrease of $27.7 million, or 1.7%, from the prior quarter [13]. - Total loans receivable, net, stood at $689.1 million, a slight increase of $2.0 million, or 0.3%, since December 31, 2024 [13]. - Deposits increased by $21.5 million, or 1.6%, to $1.3 billion at March 31, 2025 [13]. - Common equity book value per share rose to $32.57 from $31.21 at the end of the previous quarter [13].